SpaceX plans to raise $75 billion in its IPO, which could make Elon Musk world's first trillionaire

SpaceX said on Wednesday that it will offer 555,555,555 shares for $135 each in its initial public offering. 

The offering would raise $75 billion, which would be three times more than that raised by the next highest market debut — Saudi Aramco in 2019, according to CBS News. It would give the company a market value of 1.77 trillion, which would put it in sixth place in the S&P 500. 

The move also puts Elon Musk on track to be the world's first trillionaire. Forbes currently values Musk's net worth at $826 billion. His stake in SpaceX is valued at $542 billion. A $1.77 trillion valuation of SpaceX would boost Musk's worth to an estimated $1.05 trillion. 

While it plans its market debut, SpaceX is losing billions. The filing shows the company lost $2.6 billion from operations last year with $18.7 billion in revenue. Further losses were reported at the start of this year.